Press release from AAA:
Today’s national average price for a gallon of gasoline is $2.58, no change since last week. One year ago, the price was $2.24. The New York State average is $2.72 – up 2 cents from last week. A year ago, the NYS average was $2.59. AAA Western and Central New York (AAA WCNY) reports the following averages:
- Batavia -- $2.66 (no change since last week)
- Buffalo -- $2.65 (no change since last week)
- Ithaca -- $2.70 (up 4 cents since last week)
- Rochester -- $2.69 (down 1 cent since last week)
- Rome -- $2.69 (up 4 cents since last week)
- Syracuse -- $2.64 (up 4 cents since last week)
- Watertown -- $2.71 (up 3 cents since last week)
Gas prices were expected to be lower at the start of the new year, but with oil prices on the rise, motorists are still awaiting a drop at the pump.
Oil prices continue to rise and that directly impacts pump prices. Analysts are keeping a close eye on escalating tensions in the Middle East. The death of the Iranian leader in a U.S. airstrike could eventually lead to higher gas prices.
However, the U.S. has increased domestic production in recent years, so the country is in a better position than in the past.
From GasBuddy:
"To start the first week of a new decade, the national average has seen little change, but with the U.S. targeting and Iranian general in an attack last week, there is a distinct possibility that escalations in tensions may have an affect on gas prices moving forward," said Patrick DeHaan, head of petroleum analysis for GasBuddy.
"For now, there's been no physical disruption or retribution from Iran, but it has been promised. Oil markets have risen on the rising risk of Iran retaliating, but until it happens, don't expect gas prices to see much of a jump.
"For now, I could see a small 5-10 cent per gallon increase over the next couple of weeks, but the real potential for fireworks at the pump will be contingent on retaliation, and whether that retaliation targets oil infrastructure like Iran struck last year. For now we're in limbo, but typically gas prices decline slightly in January and February thanks to seasonally weak gasoline demand."
